Reference no: EM132556732

Annapolis Company manufactures quality boating apparel. The following selected financial information for the fiscal year 2018 is provided:

Item                                                                         Amount

Sales                                                           $850,000

Beginning Raw Material Inventory                        74,000

Direct Material Purchased                                 308,000

Factory Overhead                                             90,000

Finished Goods Inventory - January 1                 144,000

Work in Process - January 1                               74,000

Work in Process - December 31                          98,000

Ending Raw Material Inventory                           58,000

Finished Goods Inventory - December 31             168,000

Net Income                                                     65,000

Direct Labor                                                   155,000

Cost of Goods Sold                                         655,000

Question 1: Use this information to prepared a detailed Schedule of Costs of Goods Manufactured for FY 2018: (Round dollar values & enter as whole dollars only. Properly title your statement.)